Accounts Payable Year-End Procedures

Prior to entering any Accounts Payable in the new fiscal year, we do recommend you close both the month-end and year-end Accounts Payable.  The reason for not entering any payables for the new fiscal year before closing the previous year is that the buckets in 13.5 Vendor Payables Inquiry, which track year-to-date totals and last year totals, will not be accurate.  In addition, you must close the AP for the month/year before closing the General Ledger.

This is a two-step process; the month must be closed first and then immediately close the year.

Step One - Final Month-End Close

1. Check for any open batches for the period.  Any unbalanced batches will need to be balanced and closed. (menu 13.20.4. Open Batch Listing).
2. Run the Sequential Voucher Register.  There shouldn’t be any open balances that show at the end of this run.  (menu 13.20.5. Sequential Voucher Register).
3. Run the Check Register, with update. (menu 13.2.7 Check Register).
4. Run the Hand-Check Register, with update. (menu 13.20.6 Daily Handcheck Register).
5. Run the Month-end process, logoff and type MONTH-END at the Big J, select #2 Accounts Payable EOM Job Stream.  The process to close  AP  for the entered period will begin.

 If any of the steps above have not been completed, an error message will display and the month will not close. 

 Step Two - Year-End Close

1. After the last month fiscal close, run menu 18.3. Vendor File Year End Update.  This program clears the vendor year-to-date purchases and payment fields. 
2. After the annual AP close has been run, the 1099 reports can be run in m-13.8. 1099 Procedures.